It has recently been exposed by a cybercrime firm that six additional attacks on U.S. merchants have been made using the same software that was used in the Target Corp data theft. The merchant’s credit card processing systems are how the information has been stolen.
The theft was brought to the attention of law enforcement as well as Visa Inc. and intelligence teams of several large banks by IntelCrawler, a cybersecurity firm. While it was reported that payment card data was obtained, the amount is unknown.
These findings are a sign that Target Inc. and Neiman Marcus are only the first in a major assault on U.S. retail customer data security. iSIGHT Partners, private security intelligence, and the U.S. government issued a warning to merchants as well as financial service firms that Black POS software was being used in the security breach at Target and was also used in several other retailers. However, they didn’t release how many were affected or who the victims were.
Customers that are victims of fraud that is tied in with the breach are being issued ‘zero liability and will be credited for fraudulent charges on their accounts. Any debit card theft however could cause a bank account, mutual fund or any other type of cash account to be drained by thieves. Rosetta Jones, spokeswoman for Visa stated, “Our rules say five days, but most consumers get (their money) back within 24 hours.”
One solution that these retailers should consider is the use of a high-risk merchant account which would help reduce the risk of fraudulent activity. This type of account will protect the bank the merchant is using to process credit cards.
Using a high-risk merchant account also helps to set up secure merchant services for credit cards which can be beneficial in protection against the recent security breach the U.S. retailers have been experiencing.
For more information click below to get approved for a safe High-Risk Merchant Account TODAY!